Doing Business In Saudi Arabia

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The National Commercial Bank

King Abdulaziz Street
P.O.Box 3555 Jeddah 21481
Kingdom of Saudi Arabia

For more information, please contact:
Mr. Ali Geredah
+966 (2) 646 4086



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The National Commercial Bank

Founding and Legal Structure

The National Commercial Bank was the first Saudi bank to be licensed and the biggest in the Kingdom and a leading financial institution in the Region. The Bank initiated business in the name of ''The National Commercial Bank'' under Royal Decree on 20 Rabi Thani 1373H (26 December 1953). In 1999, the Government through the Ministry of Finance's Public Investment Fund (PIF) acquired a majority holding in the Bank. The National Commercial Bank owns 90.424% of NCB Capital, the Premier Investment bank in the Kingdom, and owns 64.68% of Turkiye Finans Katilim Bankasti (TFKB), the leading bank in Islamic Banking in Turkey.


With the changes in the Bank's ownership in 1999, a new Board of Directors was formed under the Chairmanship of Mr. Abdulla Salem Bahamdan who was re-elected as Chairman of the Board of Directors for the current term. On October 1, 2005, Mr. Abdulkareem Abu Alnasr was appointed as General Manager and later assumed the bank's first Chief Executive Officer (CEO) position on January 1, 2006.

Financial Indicators

  • The NCB is the largest Bank in the Arab world. The Bank's paid-up capital is SR 15,000 million (US$ 4,000 million).

  • Total assets at year-end 2010 totaled SR 282,372 million (US$ 75,299 million).

  • Net profit for fiscal year 2010 totaled SR 4,724 million (US$ 1,260 million).

  • Shareholders' equity at year-end 2010 totaled SR 31,272 million (US$ 8,339 million).

  • Return on average Shareholder's equity for fiscal year 2010 amounted to 15.6%.

  • Earning per share for fiscal year 2010 amounted to SR 3.16 (US$ 0.84).

Key Facts & Figures

  • At year-end 2010, the Bank has operated 284 branches throughout the Kingdom, dedicated exclusively to Islamic Banking services.

  • At year-end 2010, the Bank's customers had surpassed 2.3 million clients.

  • At year-end 2010, the Bank employees throughout the Kingdom had reached a total manpower of 5,443 of

    which 89.4% are Saudis.

  • At year-end 2010, the Bank has operated 1626 Automated Teller Machines throughout the Kingdom.

  • Over 89% of customer transactions had been successfully executed through alternative delivery channels

    during fiscal year 2010.

Awards received in 2010

  • King Khalid Responsible Competitiveness award for the third year in a row.

  • "Best Private Banking in KSA" by Euromoney.

  • The Banker ranked NCB as # 1 in the Middle East & # 126 in the World according to its Tier 1 Capital.

  • Deal Logic has rated NCB as number one Project Finance Bank in the Saudi Arabia; One of our deals, Riyadh

    IPP, is chosen by Euromoney as Middle East's Power Deal of the Year for 2010.

  • NCB Capital, the investment arm of NCB, was named Best Asset Manager Award by CPI Financial, publisher

    of Islamic Business & Finance magazine

  • Best Asset Manager Award by Central Bank of Bahrain to NCB Capital.

  • Best Research Company in the Middle East Award by Euromoney to NCB Capital.

  • Türkiye Finans Katılım Bankası, of which NCB holds 64.68% of shares, was named best Islamic Financial

    Institution in Turkey by Islamic Finance.

  • The National Commercial Bank Chief Executive Officer, Abdulkareem Abu Alnasr, was named Islamic Banker

    of the Year 2010 by the World Islamic Banking Conference "WIBC", a select group of fellow executive leaders

    drawn from the Islamic Banking and Finance Industry.

Strategy for Growth

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Core growth
is driven by a determination to continually improve service quality -offering tailored banking products through a unique array of channels.


Broadening scope involves establishing early leadership in emerging products and customer segments


Geographical expansion
is being pursued through acquisitions and strategic alliances in attractive regional markets, creating valueby harnessing NCB's distinct capabilities.